Acetabular Prostheses Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Acetabular Prostheses Market: Snapshot
The acetabular prostheses market is prognosticated to expand at a steady rate during the forecast period of 2020-2030. The growing use of acetabular prostheses among a considerable chunk of the populace due to the benefits it provides will present extensive growth prospects. Furthermore, the ability of the cup to restore the posture and shape of the hip will invite exponential growth. Thus, based on all these aspects, the demand for acetabular prostheses is expected to grow.
Research and development activities form an important part of the acetabular prostheses market growth trajectory. The players invest in these activities for accelerating the developments that add convenience. These activities increase the revenues of the players, eventually boosting the growth rate.
Strategic collaborations form an important part of the acetabular prostheses market growth trajectory. The players indulge in these activities to increase their prominence across the acetabular prostheses market. These factors bring considerable growth prospects for the acetabular prostheses market.
The COVID-19 pandemic has wreaked havoc across the globe. Many sectors have been profoundly affected by COVID-19. The growing prevalence of the virus forced many countries to enforce strict lockdowns. These lockdowns led to the shutdown of the manufacturing facilities and production units. Furthermore, the border restrictions added to the woes. All these factors served as a hindrance to the players in the acetabular prostheses market.
However, the relaxation in lockdown restrictions to bring the economy on track served as a relief to the players in the acetabular prostheses market. In addition, the pace of the vaccination drive is increasing at a rapid rate. Hence, these factors will have a positive impact on the growth of the acetabular prostheses market. All these factors may serve as a ray of hope for the acetabular prostheses market to gain pre-pandemic growth levels.
Global Acetabular Prostheses Market: Overview
The demand within the global market for acetabular prostheses has been rising on account of advancements in the field of bone replacement, prosthetics, and medical implants. The rising incidence of hip injuries due to old age, strenuous activities, and accidents has become a key driver of market demand. Acetabular cup is a type of implant that is placed in hip sockets, also known ad acetabulum. This cup helps in restoring the posture and shape of the hip, and holds tremendous utility for people who have suffered hip injuries. The bone and cartilage in the acetabulum are removed in order to fit the acetabular cup. Use of cement and friction is important for placing the acetabular cup into the hip. The global revenue index of the global acetabular prostheses market is projected to reach new heights in the years to follow.
There have been several attempts to develop improved prosthetics for various parts of the body. The development of acetabular prostheses is a direct outcome of advancements in the field of prosthetics. Hence, the global market for acetabular prostheses is expected to earn voluminous opportunities in the forthcoming years. Moreover, the presence of trained doctors and specialists has also popularised the use of acetabular prostheses in recent times. There is a heavy possibility of new types of hip prosthetics being developed in the years to follow.
The global acetabular prostheses market for acetabular prostheses can be segmented on the basis of the following parameters: fixture, geography, and end-user. On the basis of fixture, the global acetabular prostheses market can be segmented into hybrid and reverse hybrid acetabular prostheses, cementless acetabular prostheses, and cemented acetabular prostheses. Amongst these, the demand for cementless acetabular prostheses is expected to rise in the years to follow.
Global Acetabular Prostheses Market: Notable Developments
The global acetabular prostheses market can be characterised by the following novel developments in recent times:
Some of the notable vendors in the global acetabular prostheses market are Smith & Nephew Plc, and Stryker.
Global Acetabular Prostheses Market: Growth Drivers
The global market for acetabular prostheses has been expanding at a stellar pace as new technologies for implants come to the fore. The most recent development in the field of prosthetics is the use of 3 printing technologies. The use of 3D printing for the development of acetabular prosthetics offers a high level of customization. Hence, the global market for acetabular prostheses is projected to expand alongside advancements in the field of 3D printing.
The rising incidence of injuries due to road accidents has given an impetus to the growth of the global acetabular prostheses market. Severe sports injuries have also called for the use of hip prosthetics over the past.
Global Acetabular Prostheses Market: Regional Outlook
The global acetabular prostheses market can be regionally segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market for acetabular prostheses in North America is expanding due to advancements in the field of prosthetics in the US.
The global acetabular prostheses market can be segmented as:
Based on Fixture
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